Specifications include, but are not limited to: 1. Deposit Accounts ‐ The City currently has ten (10) separate accounts described below, but is possibly looking to reduce to seven (7) accounts. Listed below with each account is a brief description of how the account is used. The City is open to hearing about all services that a proposer believes would benefit the City as a part of their proposal. Please explain how your institution can handle all ten different accounts as described. Unless specified below, all Service Request Number of transactions Deposited Checks 11,299 Checks Written 5,190 ACH (Out) 1,911 ACH (In) 6,516 Return Items 394 Wire (out) 153 Wire (in) 29 accounts should be interest bearing. • HUD – A interest bearing account for the deposit of funds from the US Department of Housing and Urban Development. Used to accept deposits and transfer between City accounts. • Money Market – Primary business savings account for the City. Used to accept deposits and transfer between City accounts. • Disbursement ‐ Primary checking account for the City, noninterest bearing account. Used for issuing check payments and ACH payments initiated by the City. Needs the ability to generate a daily listing of cleared checks and to transfer between City accounts. • Bond– Noninterest bearing account for Court bond deposits and credit card payments. Used to issue check payments, accept deposits, and make transfers between City accounts. • Pension – For pension account activity including the deposits of wires and checks. Used to issue check payments, accept deposits, and make transfers between City accounts. • Payroll – Used for the reverse wires of payroll, pension, and City council payments. Payroll is initiated bi-weekly and pension and City council payments are initiated monthly. Payroll is processed through ADP Payroll. This account may be used to issue a manual payroll check and make transfers between City accounts. The City is looking to possibly move this account to the Disbursement account. • NAWS (Northwest Area Water Supply) – Used as business savings account for funds dedicated to NAWS. Needs to accept wires and transfer between City accounts. • General account – Used as the City’s main deposit account, cash, checks, ACH’s for various vendors payments for utility billing and general billing, deposits of credit card activity, federal, state, and county ACH/EFTs, wire transfers, among various other items. Needs to accept deposits, make transfers between City accounts, and generate electronic payments. Must have functionality to receive payments from the City’s credit card processors. The City currently utilizes Paymentus, Bridgepay, Tyler payments by end of 2024, Merchant Services, and Wells Fargo, these payments consist of multiple online portals, IVR system, and over the counter transactions.
